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gainer, 7%, of course that commodities play is in full force. bank of america. how about the day bank of america. they settle a dispute for $33 million, they're wondering what the secession, the plan, they were the number two gainer, up 3.6% up on the day and then we get ford, on any day these would be leaders, they had the first uptick, up 4%, but i want to point out to the year-to-date on february the 20th, this stock traded $1.58.8. here at the nasdaq, we focussed all day on apple and google, google ceo eric schmidt out on the apple board. investors bullish on this side of the equation. people are betting on which company they think is going to succeed moving forward.d. but this will take the gloves off of competition, folks, and probably going to see innovation. people excited about this conversation today. i do want to touch on a couple of names, starting with anadarko petroleum. we'll get some answers and go inside these results. that was a beat, actually, and we'll find out what things, what's going on. we talked about housing, as well, construction spending was up, part of the
turf or concerned citizens, trying to save america? and eric pelosi and the interior democratic congress. 550 million bucks. that's why republicans are smiling. fasten your seat belts, everybody. "the kudlow report" begins right now. of. . >>> i'm larry kudlow. welcome back to the kudlow report, where we believe free market capitalism is the path to prosperity. there is a lot of talk of big government savoring america, or from a health care meltdown according to president obama. well, i really don't think big government saves us from anything. at the end of the day, economic freedom, market competition, and free enterprise are the greatest engines for growth. we'll have these debates tonight on big government and health h care, but i want to weigh in on the new bull market and the new economic recovery. the single-greatest source of stimulus, for both the bull market and the recovery in the economy is profit. profits are the mother's milk of stock, business, and the economy. and if the positive profit story continues, as i believe it will, then investors are going to be just fin
market, too. of particular focus, john paulson picking up 168 million shares of bank of america as of june 30th, more than a $2 billion stake. you do see the stock up in the after market, paulson also reporting new holdings in regions financial, goldman and state street, based on an sec filing, larry. what we don't know, if he's still holding onto these stocks because the sec filing relates back to his june 30 standing. we don't know that yet, larry and don't know whether he's short other stuff in the market. obviously, this is a guy who knew or could foresee a financial crisis coming and shorted lot of financials back in the day. >> dick bove told us he likes citigroup but paulson went for bank of america. they're both partly government owned. >> they're both partly government owned. some people might say maybe one is more owned by the government than the other. >> paulson is a smart guy. interesting play. thank you, rebecca jarvis. >>> let's dive into our speed trade. jim yoeurio, director of institutional services. thank you for being here. >> thank you for having me. >> let
?? >> i really do. i think we've gotten to a right size in corporate america.a. we have cut costs to the bone. i think any top line revenue growth will be a driver for growth in the s&p 500 and all of corporate america. i think three different places right now. energy is going to be a winner.. it's going to be a winner on three fronts, not the least of which is the short term, middle term and long term demand is going to be the picture there, and we'll see inflation in 2010. some companies to stay away from, the worst is mind because of how bad that gets. i think health care investments comes back, and look at technology as a consolidating sector. the bottom 90 companies in technology, and pay consolidation, and ratio in technology. >> ron shaw, i think you would disagree on energy with art hogan, would you not? >> i believe energy, is a good sector, but we look at service companies, we like, for example, transformer businesses, manufacturing companies that support the energy industry. but we do not believe in the commodity sector or the energy industry. >> and art, you're nodding
in large names. bank of america up all day, a group at the close and so did citigroup and others as well. and classic cyclicals, railroads strong, ryder and the trucking group. finally, the major industry, dow up 2% but transports outperformed everything. >> thanks very much, bob pisani. we have walter myers, jim eurieio, option contributor and director at tjm institutional services. thank you very much. jim, let me start with you. another rip roaring triple digit day, what do you make of it? >> today's a huge day. as you said before, it was kind of decoupling of the weak dollar strong stock market trade, like the currency market is letting loose of the currency market on its own to see if it can fly and it did fly. there's been so many people shorting the dollar so long now that we started this move high owner the dollar perhaps we will see some shorts take on some heat and see a little bbit -- >> tell me about short the dollar. this is such an important theme. we talked about it on this program last night. i did argue with my great friend, rick santelli a strong jobs report would contr
improvement in the second half. bank of america, travelers, chase, american express, ge were all under pressure. shares of cit said it would file for bankruptcy if it couldn't secure reliable debt financing. we had energy shares weaker as well. oil prices tumbled below $70 a barrel. retail stocks held up well after earnings reports due out later this week, target, wal-mart, the gap all posted gains, so did macy's which releases its quarterly report before tomorrow. >> sharon, thanks. you used to cover the energy beat, you still cover the energy beat carefully. energy stocks are in their own pullback. do you have any thoughts on that. >> we are in this range we've been in. we could see a pull back to mid-60s or $62 a barrel or so. there is this concern are we in a recovery and if so, what does that mean for energy demand? we're not seeing that. we're seeing a lot of increases include supply, and that's what we're expecting tomorrow when the energy department reports. >> they report the energy tomorrow. you bull or bear on energy prices? i hate to put anybody on the spot but you know the
for america. >>> ethical absences or absentminded. either pay your taxes, mr. charlie rangel or leave your post as head of the means and ways committee. time to fish or cut bay. >>> are deficits saving the world? deficits? that's what paul drug man says. we will debate why he's totally wrong. fasten your seatbelts, "the kudlow report" begins right now. good evening, everyone. i'm larry cud low. welcome back to "the kudlow report" where we believe free market capitalism is the best path to prosperity. you're looking at live pictures from inside the kennedy library in boston, massachusetts tonight, where a private memorial service for senator ted kennedy is just getting under way, may he rest in peace. those set to share their memories are former presidential nominee, john mccain, vice president biden and caroline kennedy. nbc steve handelsman joins us live from the kennedy library in boston with some of the details. hello, steve. >> reporter: larry, good evening to you from the jfk library. the arrivals here showed off who's who of democratic politicians across america and the enormous kenn
stocks, sell america because of commercial real estate. the fact that they're rallying is that an a sign of economic recovery? is that what drove up the bank, the best performers today. >> you have to watch it. i was just talking to my friends at ubs earlier. everything else had already moved and kind of went to the widows and orphans here. i'd like to believe there's a fundamental story. it seems to me they moved to the sectors not kept up with the rest of the market. you have to watch it. i wouldn't necessarily be moving money that far out into the risk curve just yet. >> fellows, do me a favor, stay with me. i have to take a commercial break. i have producers screaming at me bad enough you're now for federal spending for cash for clunkers, now, you want to break through the commercial bloirks can't do that. we're a profit maximizing program in a profit maximizing cnbc network. please statement we'll come right back to you and in addition, cash for clunkers, just the right stimulus for our economy. we will ask leading republican tom coburn if he will sign off on the billions to keep th
are bottom of the barrel, city bank, bank of america and aig. the reason they're getting a pop is because people put so much money in the good ones they have to cast their net. i couldn't don't want to buy those on the shelves while people pass all the good banks. >> what's your favorite bank. >> jpmorgan chase, best commercial -- >> jorripmorgan went through th pre-lehman brothers number. september 12th it was 4$41.17, the whole market will drive past the lehman brothers thing. >> for jpmorgan, you're right, they're back to a good level. the yield curve works for them as well as anybody. part of what we see from citigroup and smaller bank, it's easy to feel good about bad companies when you're giving away cars. i can't believe you turned -- >> cash for clunkers. >> i don't know if i should call you brutus or benedict arnold. >> if i can possibly remember this, foolish consistency is the h globing of little minds. just on this one issue, on this one issue, we finally found a fiscal stimulus that works and it's good for the consumer spirit. i actually think it's going to work. i will give
. >> you know america has a love affair with the automobile, you know that. they love going into the showroom. if they're not buying new cars, they're buying old cars. they love the smell of the new cars, joe, this is america. >> some people might like the smell of a new washing machine, some people might like to buy clothes, no, the hand-out is put forth in a way you're dictated and penciled in where you spend it. payroll tax holiday would have put the money in the pocket quick, given the consumer a better choice. >> i'm in favor of a payroll tax holiday, i'd like a 17% flat tax rate but the politics won't allow that. rick makes a good point a good one, income has been lagging, wages and salary lagging, i wan to ask you that and i tomorrow' report, will we get any leaf from hours worked because in addition to job loss. >> it's key, key. >> hours worked have been slumping and that brings down income to spend on all the washing machines rick santelli wants to buy. >> larry, we'll see some improvement in temp hiring, go to more adjusted flexible adjusted work force. overall
stocks that trade in america. >> okay. new topic. bob, housing data very strong today, what about the housing stocks? is that some place you're willing to go to? they've had tremendous runs, is it all priced in? >> i think most of it is priced in. we still have a way to go. it's exciting to get a good month in existing home sales. to me it's more about this month because really that's april. so now we have a four-month run in upticks in existing home sales. so it tells us maybe we've tested the bottom. but if we're going to really see the turn around in housing, that turn around has to be driven by an uptick in employment. i think we're at least a year away from that. i think there are other great opportunities in the stock market. i'm not sure that i'd be looking for it in housing right now. >> jim lacamp, do you agree with that? if you don't, where would you put your money? >> i do agree with what bob just had. a lot of these sales are foreclosures, short sales of first-time home buyers above the 250,000 that we just looked at that. that market is dead and it's still contracting
's a given in one of america's most left-leaning states. who will it be? when will they be seated? those are the big questions. ted kennedy himself asked that state law be changed to allow his temporary replacement. his interim successor to be appointed by the governor, which is not now permitted in massachusetts, though it is in most states. massachusetts governor today said he favors that and the state legislature set hearings for september 9th to consider changing the law to let's patrick pick an interim senator. but patrick also said january 19th is the day of a special election to elect the senator who would then serve out the three years left in ted kennedy's term. among those said to be possibles for the appointment -- and the interim election are joe kennedy, the former congressman, ted's nephew. and ted kennedy's widow, vicki kennedy. though governor patrick said that victoria kennedy said she's not interested in the job. now all of this matters to those of us who are not from massachusetts because without either an interim successor or until the special election in january, the
-efficient midsize sedans... ...and suvs in america. i don't know if you've heard, but this fuel efficiency thing.. kind of a big deal. anyway, ford and lincoln mercury have you covered... with showrooms full of fuel-efficient cars, trucks, suvs, crossovers, and hybrids. how's that for going green? now, get 0% financing plus up to $1,500 cash back on most ford, lincoln and mercury vehicles. go to ford.com, or visit your ford or lincoln mercury dealer. >>> welcome back. we decided to put the big question of the day to the kudlow caucus. we asked our panel did president obama make the right choice renominating ben bernanke as fed chairman. here's what they said, out of 12 caucus members, 9 voted yes, however, 3 voted no. the three dissenters, jerry bowyer, steve moore and jimmy p. very interesting. to cast your own vote, head over to kudlow.cnbc.com. we are back with larry lindsey, former fed governor. joining us is nome schiber, why did president obama decide to renominate ben bernanke and why today? >> i think the continuity is large for them. they know the difficulty almost every fed chairman ha
at these town halls. everybody in america is on the defensive right now. so does he look defensive? no. to me he looks presidential. he is talking about the facts. this death board, that is not a fact. that is a lie. everybody who's read that bill, including me, knows that's a lie. all right? >> i'm sorry, you've read that bill? >> absolutely i've read that bill. i've read three versions of the five, thank you very much. you know what, you don't even know what you're talking about. >> we're going to have -- >> it's not what it says. >> what does it say? >> we're going to have to get someone to read the bill on 0 the air, but before we do that to roy murdoch. rasmussen poll very interesting. shows 42% favor this. 53 against. on seniors, seniors are opposed to the plan by 20 points. the pay to play betting parlor shows now only a 35% profitability. about three weeks ago it was a 50% probability and i want to put the cnbc stock markets on this. insurance companies have had a great month despite the threat mr. obama's offensive to get health care. humana is up 23%. united health up 13%. aetna 7.5%.
.s. government does not generally tax interests by foreigners who invest in america. if a foreign government came to us for that information we'd have no information to give them, the irs doesn't collect i. every foreign country can come over and say hand over information us to about our citizens, you made the swiss do it. that that. hugo chavez in venezuela stealing his citizens' property everyday comes to the u.s., these people are evading my taxes. hand that information over to me. you made the swiss do it by. this action, we give him the right to do that. you still don't think tax havens are about preventing tierney. remember why swiss banking privacy laws were strengthened in the first place to help jewish people hide their assets from the gustapo. i do not advocate people cheating on their taxes but tax havens help people keep their taxes lower by providing tax competition. no surprise countries like france and germany are the biggest complainers because they have the highest taxes and want the rest of the world to have the highest taxes as well because they don't want to compete. the u.s.
happened as automatically as everything else? at bank of america, it practically does. use the bankamericard power rewards visa credit card and earn rewards like cash back with every purchase. cash you can put into savings. or even use to help pay down your credit card balance. it's one of the many ways we make saving money in tough times a whole lot easier. >>> take a look at your screen. that's right. the bulls have taken the battle and crossed to 1,007 today. ne nearly 11 points after aig stock jumped nearly 20% after sugge suggestions the giant may be ready to pay back the t.a.r.p. money and maybe even return some money to shareholders. is that possible? >> here to discuss the research, the chief investment officer and action contributor and peter shipp of euro-pacific author of "crash proof," how to profit from the coming economic collapse. the ceo says he's optimistic he can pay back all the money and even thinks the shareholders will end up with money. do you think that's possible? >> highly unlikely. i'm sure he will. >> cynicism. >> all investors need to stay away.
fuel-efficient midsize sedans... ...and suvs in america. i don't know if you've heard, but this fuel efficiency thing.. kind of a big deal. anyway, ford and lincoln mercury have you covered... with showrooms full of fuel-efficient cars, trucks, suvs, crossovers, and hybrids. how's that for going green? now, get 0% financing plus up to $1,500 cash back on most ford, lincoln and mercury vehicles. go to ford.com, or visit your ford or lincoln mercury dealer. geand that takes a lot ofeen arohard work.0 years. not just some cute little gecko waffling on about this, 'n' that. gecko vo: i mean, i am easy on the eyes - but don't let that take away from how geico's always there for you. gecko vo: first rule of "hard work equals success." gecko vo: that's why geico is consistently rated excellent or better in terms of financial strength. gecko vo: second rule: "don't steal a coworker's egg salad, 'specially if it's marked "the gecko." come on people. >>>ler. stocks fib finished mixed today, the dow was up, let's head over to stock market central. we have cnbc's rebecca jarvis who joins us now
a pleasure to have you on the program, hope you return, dave walker, same to you. >>> coming up, america struck oil, 150 years ago tomorrow, 150th anniversary of the first oil find. you will tell us about peak oil and prices and other topics. >>> cash for clunkers is in the can. who are the big winners and why are some new car owners having buyer's remorse. we need constitutional authority to create fiscal soundness. that's where this is going to lead. fithe same tools the pros use, so you can be a disciplined trader. by selecting from eight advanced triggers, your order gets executed, even when you're busy. and with trailing stops to help you lock in profits and minimize risk, you can be confident in your strategy, no matter which way the market moves. find out why more and more active traders are turning to fidelity for a smarter way to trade online. >>> here now with big winners and losers from the recently completed cash for clunkers program, phil lebeau, hello. >> thanks, larry, cash for clunkers is over and the federal government is calling the program wildly successful. 690,000 ve
it were there 15,000? 16,000? >> about 15,000. >> so we're down to 8,000. has america suffered from the loss of banks, 50% drop in banks? >> i don't think we've suffered. there's a lot of competition in banking. i would agree with chris the smaller banks play a very important role in lending money to individuals and small businesses and serving smaller communities in particular. i really would hate to see that system disappear. i don't think it will. i think we're going to lose some banks this time around. we're talking about hundreds not thousands. in the 1980s, just to remind everybody, we had 3,000 bank and thrift failures, many times the number we're going to experience today and the problem bank report today that said there were 400 banks, i would remind everybody that at the end of 1991 after 3,000 banks had failed in the preceding decade, we still had 1,500 problem banks on the list so this 400 number is not a staggering number. >> all right. so there's a little too much pessimistic hype. now that's what sheila bair basically said, a lagging indicator and we can take it. she
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